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Our Products
Perp88 offers three main core products, as listed below:
Perp88 supports leveraged trading of BTC, ETH, and MATIC. Users can open a long or short position up to 88x of their collateral value.
- 📈 High Leverage: Perp88 supports a maximum leverage of 88x. This allows users who have high conviction to capitalize on their market view and maximize their financial gains.
- 0️⃣ 0% spread: With the current architecture, Perp88 is able to offer a 0% spread when opening/closing a leveraged position. Leveraged traders on the Perp88 platform can enter/exit a position at the specific price with size.
- 📉 Low Fees: Perp88 offers some of the cheapest fees for our users. We currently charge only 0.09% of trading fees on leveraged positions. Combine the low fees with our referral program, and you’ll get to use one of the cheapest leveraged perp trading platform.
- 💰 No limit on profit: Perp88 does not place any limit on traders' profits. You will receive all the potential upside from your trade and your position will not be closed or capped simply because you are "too correct" and how much profit you are making.
- No counter party risk: When you open a position on Perp88, enough reserve is locked in our smart contract to payout for your profits in all scenarios. This means you are guaranteed to get paid out when you close your positions in profit, and you don't have to worry about the counter party being solvent.🧑🤝🧑
- 💱 Advanced Order Types: Perp88 supports advanced order types such as limit order, take profit, and stop loss. This is to enhance the trading experience for our users and support them to maximize the efficiency and effectiveness of their trading strategy.
- 📊 Subaccount Support: Perp88 supports multiple subaccounts under the same wallet address. Using subaccount allows users to employ different trading strategies and provides an easy way for users to track their performance under the same wallet address, improving the overall user-experience.
- 👁 Robust price oracle: Perp88 relies on Chainlink for price feeds to protect leveraged traders on the platform from scam wicks or short-term rapid price movements in a volatile market condition. This greatly reduces the risks of liquidation for the position owners.
- 🌊 High liquidation threshold: Perp88 has set the liquidation threshold for leveraged position at 99%, meaning the position owner would only be liquidated if the loss & fees accrued on the position reach 99% of the position’s collateral. Setting the liquidation threshold at 99% will greatly reduce the chance of position owner being liquidated, especially in a volatile market condition.
- 💻 Friendly UI/UX: Perp88 has put a lot of emphasis in delivering the best experience to our users. Whether you are a DeFi native or you are just a new comer to the space, we make sure that navigating through our UI/UX is as intuitive as it can get.
- 🧑🤝🧑 Most Attractive Referral Program: Perp88 offers one of the most attractive referral programs for both the referrers and the referees. The highest tier of our referral program returns over 50% of trading fee revenue generated from referees back to the program participants while also posing minimum participation requirement. We will share more details on the referral program in the upcoming articles.
Below, we walk through an example of what happens when a user opens a leveraged long BTC position:
- A user deposits 20,000 USDC into the platform as collateral. The 20,000 USDC is then added into the PLP fund.
Note that the value of your collateral is taken as a snapshot when your collateral is deposited and will not change even if the price of the asset changes. For example, if you deposit 1 ETH when 1 ETH = $2,000 as your collateral, your collateral value will remain at $2,000 regardless of any subsequent price movement in ETH.
- A user then opens a leveraged long position on BTC at 5x at 20,000 USDC per BTC. This means that the position size is 5 BTC.
- 5 BTC from the PLP fund is reserved, meaning no one can withdraw or swap for this 5 BTC, to ensure the fund has enough assets to pay out as profits.
- Depending on whether BTC price increases or decreases, the profit or loss from the position is removed/added to value of their collateral. In the case where the net loss of the position, inclusive of funding fee, exceeds the collateral value, the position is liquidated and the collateralized asset is taken by the platform.
- When the user closes the position, they can withdraw their collateral and profits (if any) in the form of the asset that they long (BTC).
Below, we walk through an example of what happens when a user opens a leveraged short BTC position:
- A user deposits 20,000 USDC into the platform as collateral. The 20,000 USDC is then added into the PLP fund.
Note that the value of your collateral is taken as a snapshot when your collateral is deposited and will not change even if the price of the asset changes. For example, if you deposit 1 ETH when 1 ETH = $2,000 as your collateral, your collateral value will remain at $2,000 regardless of any subsequent price movement in ETH.
- A user opens a leveraged short position on BTC at 5x at 20,000 USDC per BTC. This means that the position size is 5 BTC.
- 100,000 USDC (equivalent to 5 BTC at the time of position opening) from the PLP fund is reserved, meaning no one can withdraw or swap for this 100,000 USDC, to ensure the fund has enough assets to pay out as profits.
- Depending on whether BTC price increases or decreases, the profit or loss from the position is removed/added to value of their collateral. In the case where the net loss of the position, inclusive of funding fee, exceeds the collateral value, the position is liquidated and the collateralized asset is taken by the platform.
- When the user closes the position, they can withdraw their collateral and profits (if any) in the form of a stablecoin (USDC/USDT).
Perp88 offers 0% price impact swap for assets in the PLP fund. By swapping your assets at Perp88, you will not face any price impact regardless of the size of your trade. Below is the list of assets supported by our 0% Price Impact Swap feature:
- Bitcoin (BTC)
- Ethereum (ETH)
- Polygon (MATIC)
- Circle USD (USDC)
- Tether USD (USDT)
PLP Fund is the liquidity pool for Perp88. We have provided an in-depth information on the PLP in its own page. For more details on the PLP fund, please visit here.
Last modified 4mo ago